Number of Credits: 7 credits
Hours: 30 hours of Lectures, 30 hours of Tutorials including exam, and 20 hours of flipped Classrooms with tutor support.
General Presentation: This course is the second one in a sequence of courses that aim to cover macroeconomics at the Graduate level. This course is dedicated to short-term macroeconomics: the determination of production and employment in an open economy; business cycles and stabilization policies, open macroeconomics, the dynamics of inflation and unemployment, the neoclassical synthesis, new Keynesian economics, imperfect competition in macroeconomics.
- aggregate demand and supply,
- open macroeconomics,
- exchange rates and the balance of payments,
- the dynamics of inflation and unemployment,
- stabilization policies,
- static models with imperfectly competitive product market,
- market power on product and labor markets, and underemployment,
- fiscal policy and public spendings under imperfect competition,
- monetary policy, neutrality, and nominal rigidities,
- coordination failures,
- some macro-dynamic implications of imperfect competition
Books: Romer, D (2005): Advanced Macroeconomics. New York: Mc Graw-Hill. Third Edition.
Blanchard, O. et S. Fisher (1989): Lectures on Macroeconomics. Cambridge: MIT Press.
Blanchard O. J. (2005): Macroeconomics. Prentice-Hall. Fourth Edition.
Prerequisites: Macroeconomics 1